Home > Press > Milestone in European-Russian cooperation in innovation: leaders of top European venture capital funds and corporations to visit Russia

Abstract:
The European Venture Capital Industry and Global Innovation Partnerships (GIP) today announce a trade delegation of 25 leading European venture capital firms and top executives of major international technology corporations to Russia. They will participate in the Second International Trade Delegation on Global Innovation Partnerships in Moscow and Kazan, April 18-22.

Milestone in European-Russian cooperation in innovation: leaders of top European venture capital funds and corporations to visit Russia

Moscow, Russia | Posted on March 24th, 2011

The initiative will connect European and Russian investors and innovative businesses to discuss cooperation in the emerging high technology areas, such as cleantech, biotech, aviation and space-related technologies.

"The mutual advantages of closer collaboration between European and Russian innovation and hi-tech know-how are immense. We are delighted to have the opportunity to connect technology innovators, buyers, suppliers and venture capital backers, between our neighboring regions," said Georges Noel, EVCA's VC Director.

In Russia, the delegates will meet government officials, leaders of Russian business, hi-tech entrepreneurs, institutional investors and venture capital backers. After meeting in Moscow, the European VCs and business executives will visit Kazan, Tatarstan, a Russian fast-growing region.

The visit of the trade delegation is organized by European Private Equity and Venture Capital Association (EVCA) and GIP in cooperation with Russian Venture Capital Association (RVCA), and Investment and Venture Fund of the Republic of Tatarstan. Global Innovation Partnerships is a joint venture of the RUSNANO, Russian Venture Company, Skolkovo Foundation, and the Global Technology Symposium.

"The Trade Delegation follows the tradition of inviting VCs from the key international technology markets to Russia. After VC trips from Silicon Valley in 2010 RUSNANO and a number of Russian industrial companies and private investors established direct efficient business contacts with top-tier Californian VCs We appreciate that the volume of joint projects in the areas of clean energy, industrial biotech, and medicine currently considered by RUSNANO as the result of this cooperation, exceeds one billion dollars," said Mikhail Chuchkevich, executive advisor to chairman of the Executive Board of RUSNANO.

"Russia is becoming a major player in world VC markets. Russian companies are becoming strategic investors in large international innovative projects. This visit continues the dialogue with European VC investors that began a few years ago. This is a great opportunity for our European partners to see the Russian innovation economy in greater detail. The European experience can give a new impetus to Russian innovative projects, and I'm sure that meeting of Russian and western VCs, innovative entrepreneurs, researchers and development institutions on a common playing-field will catalyze this process," said Evgeny Kuznetsov, Director of Department of Development and Communications at Russian Venture Company.

"We support all investors in high-technology, both local and international. If they are focused on global success, then by nature they are international. We look forward to meeting with our business partners and strategic European partners. We will demonstrate to them our most promising startups founded by successful entrepreneurs," said Alexey Sitnikov, Director of International Development Department of Skolkovo Foundation.

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About RUSNANORUSNANO was established in March 2011 as an open joint-stock company through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Anatoly Chubais is chairman of the Executive Board of RUSNANO. Work to establish nanotechnology infrastructure and training for nanotechnology specialists, formerly conducted by the Russian Corporation of Nanotechnologies, has been entrusted to the Fund for Infrastructure and Educational Programs, a non-commercial fund also established through reorganization of the Russian Corporation of Nanotechnologies.

Russian Venture Company - www.rusventure.ru/en/

Russian Venture Company (RVC) is a government fund of venture funds. RVC’s mission is to promote Russia’s domestic venture capital industry by capitalizing venture funds, most of them privately-owned. In addition, RVC acts as a “think tank” for the Russian venture capital industry to originate public policy ideas for the benefit of the venture capital sector.

The Skolkovo Innovation Center is a prototype of a “city of the future”, which should become the largest testing ground for the new economic policy of Russia. On the specially designated territory, will be created special conditions for research and development, including for the creation of power and energy efficient technologies, nuclear, space, biomedical and computer technologies.

Global Technology Symposium - www.usrts.org

The Global Technology Symposium is the leading investment conference on venture capital, technology, and entrepreneurship in emerging markets. Each year, the Symposium brings more than 300 selected opinion leaders in business, finance, technology, and policymaking to Silicon Valley, where they share insights into the opportunities and challenges of globalization. The next Symposium will take place on March 23-25, 2011 in Menlo Park, CA

European Private Equity & Venture Capital Association -www.evca.euEVCA is the voice of European private equity and venture capital.

We promote and protect the interests of our more than 1,300 members, to ensure they can conduct their business effectively.

EVCA engages policymakers and promotes the industry among key stakeholders, including ninstitutional investors, entrepreneurs and employee representatives.EVCA develops professional standards, research reports and holds professional training and networking events.

EVCA covers the whole range of private equity, from early-stage venture capital to the largest buyouts.